Be careful in your Monday Trades

Technical Views - Commodities 5th Sep 2011

  

MCX GOLD1
TREND : Broken out and target achieved in the same day. But on monday we have some troubles in store. US is closed on account of Labor Day. We had a very volatile move on saturday. So on Monday there can be either a repeat of saturday or a very quite trading session. And in both situations depending purely on charts will not work. So our advise is to avoid trades on Monday or do very small quantities.

Support and Resistance - 27600 / 28000
SIGNAL : avoid trading

MCX SILVER1
TREND : After some really good profits on friday, its time to wait for the next move and then trade only. Use signals for very small moves and fixed targets. Though the best option is avoid trading

Support and Resistance - 63500 - 64300

SIGNAL : avoid trading

MCX Crude1
TREND : Above our expectations Crude touched 3910 also. Crude will continue to face resistance at 4010 levels. And you can go short on the sell signals again.
Support and Resistance - 3960 / 4010
SIGNAL : Use Sell Signals of TDI BS

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